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Apple reported better than expected earnings for its third fiscal quarter of 2017, raking in $45.4 billion in revenue led by strong iPhone sales of 41 million units and a return to growth for iPad. AppleInsider breaks down the performance in this video.
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AppleInsider Staff
William Gallagher
Christine McKee
Malcolm Owen
Wesley Hilliard
Marko Zivkovic
3 Comments
iPhone SE here. Buying the 8 as soon as it comes out. Go Apple.
I find it amazing as to what Apple is doing in terms of iPhone sales considering what I think is a totally saturated market for high-end smartphones. I'm sure Apple's retail stores around the globe must be contributing to consumers being allowed to test and try iPhones in stores. Even if they can barely afford one, it might be enough to sway a consumer into buying an iPhone. My only concern about iPhone sales is in China where WeChat is considered a platform. I get it. Why should a Chinese consumer buy an iPhone when any run-of-the-mill Android smartphone can do what they need it to do? It's just paying more for something they don't see the value in spending. And then there's Chinese consumer loyalty towards domestic brands. I can't swear to this but maybe this is how they feel. Years ago, we used to have a slogan of "buy American" but that no longer applies to Americans. Citizens of a country should have that sort of national loyalty. Not entirely, but for the most part.
Anyway, I'm happy with Apple's quarterly results and the share gains although they don't look as though they'll last very long. I know many stocks were in the red today, so that might just be a one-day thing. One never can tell how Apple's share price will perform on a day-to-day basis. It will never perform like a FANG stock does. I'm sure the Apple-haterz will be out in force saying how Apple cheated on something or got a free pass this quarter. Whatever. That's just typical Apple-haterz BS. I ignore the anti-Apple chatter and buy and hold and basically Apple stock ownership has turned out just fine for me. Apple still has the highest market cap, very good dividends and highest cash hoard (minus debt). It's not a perfect company but it seems to be performing very well by most fundamental financial standards. Growth isn't spectacular but Apple isn't greedy, so slower growth is to be expected. Growth might come in spurts if Apple can find new areas of revenue but I believe that will take Apple's immense cash hoard to significantly boost revenue growth.